G10 Global Investigate Claims That The Newspaper Industry Is ‘Shrinking Fast’
March 29, 2012
G10 Global Investigate Claims That The Newspaper Industry Is ‘Shrinking Fast’
G10 Global discovered this week that by tracking people’s jobs and job changes in the last four years, social networking site LinkedIn has compiled a list of industries illustrating which were expanding and which were in decline. With assistance from the Council Of Economic Advisors, the professional social networking site compiled data from its 150-million strong membership base and found that even though online publishing had job growth of over 20%, it did not come close to balancing the 28.4% decrease in jobs in the newspaper industry.
G10 Global understands the research was by no means a perfect reflection of industry growth and decline, however it did highlight the changes LinkedIn’s massive membership base has experienced over the last 4 years. Scott Nicholson of LinkedIn explained: “It’s just a hint of what we can see by scouring the ‘data exhaust’ of 150 million-plus LinkedIn members who share information and insights with each other. By longitudinally following anyone in the US who has a position listed in 2007. We adopted this methodology to control for the incredible growth in our member base since people who join LinkedIn after 2007 still are likely to list a job they had in 2007. This provides us a sample size in the tens of millions.”
Although the report focuses on trends in the US, the BBC also recently reported, “The Herald and Sunday Herald led sharp falls in Scottish newspaper circulation during 2011, according to new figures.” George Kennedy, Managing Director at G10 Global believes: “As we’ve seen with the economy it’s possible to spot trends in places like the US and forecast how things over here might be affected in a similar way over here.” In the midst of the current economic climate, G10 Global of Glasgow have continued to excel in the world of Direct Sales & Marketing – an industry their Managing Director George Kennedy recently claimed to be ‘recession proof’. George Kennedy explained: “Our industry is all about giving people what they want without the hassle of having to go out and look for it themselves. For the newspaper industry unfortunately, in the world of Smartphones and Tablet computers, people want news there and then, as and when it happens.”
The other significant industries in decline were restaurants, supermarkets and retailers, which G10 Global believe can all be directly linked to lower disposable incomes amongst consumers. Operating many in-store promotions and events in shopping centres, G10 Global have witnessed the decline in UK retailers and believe that this again is due to the demand for more convenient ways of obtaining wanted products and services. With online services providing bigger savings, hassle free shopping and instant gratification, George Kennedy believes the Direct Sales & Marketing industry will continue to thrive as it mirrors what the modern customer is looking for.
← Back to Press Releases
